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These days you won’t find a contractor using inefficient tools on the jobsite. The hammer or the nailgun? No question.
While every contractor recognizes the flaws of using inefficient tools on the jobsite, they may still be losing money due to inefficient payroll tools and processes.
According to the The American Payroll Association (APA) companies can save 2% of gross payroll costs each year if they automate their time and attendance. Additionally, the increase in payroll accuracy saves an estimated 10% in tax obligations (social security, medicare, workers comp), paid on top of the hourly rate per employee.
Let’s put a number on those savings: a construction company with eight employees paid $15/hour, will save close to $5000 a year. That’s money in your pocket.
So how does a contractor start saving on payroll? It’s classified. I could tell you but then I’d have to kill you.
Just kidding. Really, start with automating employee time cards.
There are inexpensive and simple mobile time cards that will save you money on payroll, eliminate errors caused by shoddy handwriting and manual time entry,
integrate with payroll software (resulting in bookkeeper happy dances, everywhere) and stand the test of time against audits and employee labor disputes.
“I would spend on average 4 hours per week using my old time reporting software to submit time for my 79 contractors... The first time I used TSheets it took 15 minutes!!!” Jay Grover, happy TSheets customer
Just follow Jay’s lead, because automating time tracking is a walk in the park, providing:
Mobile time cards available on devices your employees already use (cell phones, smartphones, tablets, laptops, and more)
Accurate times (no more rounding or guessing)
Insight into who’s working, where and on what
Detailed time logs protecting against audits and disputes
“I would spend on average 4 hours per week using my old time reporting software to submit time for my 79 contractors... The first time I used TSheets it took 15 minutes!!!” Jay Grover, happy TSheets customer
Just follow Jay’s lead, because automating time tracking is a walk in the park, providing:
Mobile time cards available on devices your employees already use (cell phones, smartphones, tablets, laptops, and more)
Accurate times (no more rounding or guessing)
Insight into who’s working, where and on what
Detailed time logs protecting against audits and disputes
Real-time tracking preventing the dog-ate-my-time-card excuse
The cherry-on-top Crew App - where a supervisor can clock employees or entire crews in or out with a few taps on their smartphone.
Back at home base, employee and project hours are visible in real-time, overtime alerts have been set (saving even more money) invoicing is immediate and job costing - more accurate and profitable. And that’s just the beginning.
According to accounting, payroll and tax experts, there are up to 35 actions necessary on a weekly, monthly and quarterly basis in order to run payroll manually. Yep, it’s goodness gracious great balls of fire for your bookkeeper.
Yet with automated time cards, a time tracker that integrates with your payroll software like QuickBooks (I’ll save you some time, TSheets does), your payroll can take an average of three steps, not 35.
"T-sheetshas really helped save my company money. Billing Time and Materials work is a breeze and there is no more hunting down timesheets...The system easily pays for itself; it is highly recommended." One Call Construction, Inc.
Building efficiency and profitability on the jobsite can be a struggle. Automating time tracking and payroll can be an easy way to save a bucket load of time and money. Your employees, supervisors and bookkeeper will thank you.
So calculate your savings or start saving today with efficient business tools in addition to your power tools.
Kelly Bistriceanu, Marketing Programs Manager At TSheets.Com
Originally from the Midwest, Kelly has now made the foothills of Idaho her "Idahome". Before she became a proud Army wife, and traded a four-letter surname to an 11-letter Romanian mouthful, she launched her career in marketing fueled by her passion for connecting with people and building relationships. In her life before TSheets, Kelly was the Chief Marketing Officer for a direct mail marketing firm. Two things about Kelly: she has this uncanny ability to strike up a conversation with just about anyone she meets and she's an avid marathoner. Yes, in work and in life she goes the distance!
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Editor’s Note: We have been using TSheets in our contractors bookkeeping services firm for a while and we are extremely impressed with it. TSheets is the only time tracking program we have found that actually works with QuickBooks and a variety of smartphones, iPhones and tablets. And it works great in our QuickBooks Desktop Online Intuit Approved Cloud Server.
I Highly Recommend all contractors spend some time on TSheets.Com and get to know them. TSheets is a valuable resource to all contractors. Please be sure to let them know Randal DeHart, The Contractors Accountant, recommended you.